Interesting stock I recently found.  The more trend lines I draw the less impressive with the technicals I am but the chart made me take notice.  Obviously very beaten but I believe this is the world's largest water company.  A European company it undoubtedly suffered from austerity and the recession but with inroads in China and a strong European presence it could get back going. 

Also looks to have between $11-12 per share in cash (different sources show different numbers - would have to verify).  Looks like they pay an annual dividend which was already paid for 2012 but was $0.89.  Even if that declines for 2013 for a $10 stock that is pretty healthy.  I definitely will be adding this one to the watch list and doing more work on it.

Chart Link

One of the stocks of the morning, WFR, will be opening higher on earnings.  It will likely still be below support but might be a name to watch if it can consolidate under resistance as it has been beaten down over the past year or so.

Chart Link

Your right Steve, very lock step.  I thought the euro would hold up and press higher ultimately but it does seem like King Dollar might want higher prices.  Still watching as you mention, we have not had much out of the eurozone lately and they are poised to be thrusted back into the picture now.

I have personally seen too much market data trying to predict who is going to win!  You might like Matt's chart from last night noting the trend and that was before we knew what was coming today.

http://breakpointtrades.com/blog/post/211163/#211181

Agreed.  It will be interesting to see if sectors like the Financial can keep the S&P afloat while tech and AAPL lags and maybe then tech takes back over much later in the year or early next.  Something I will be watching.

For fun I went back to look at the last time AAPL closed below its 200 and while not exact in a way so far it feels like it is rhyming.  Will be something to continue to watch.  

Yes that little bugger could keep going and has respectable volume.  Obviously a lot of commodity tied names are moving today.  I would be playing this more as day trades personally.  I would like to see it stay above $2.90-2.95.

You vote twice too!?  I thought only the dead do that

I got to my polling place about 5 minutes before they opened and it was already packed!  God Bless America!

Apple (AAPL) engineers are more confident that the chip designs used for its mobile devices will one day be powerful enough to run its desktops and laptops, meaning the company could replace Intel (INTC) processors in its Mac computers with its own technology, but Apple is unlikely to switch in the next few years, according to Bloomberg, citing people familiar with Apple’s research.

Another one I might normally glance over since I generally like to follow the same names since I think you can get a "feel" for them.  This is an electronics/furniture store/chain.  I have never been to one of their locations but if this flag can tighten up a little more and the MACD recycle it could be one to go for one final push if the market bounces.  Matt's longer term MACD histogram slightly concerns me but would just be something I watch.

Chart Link

Not normally one I watch but this could provide a trade for a bounce on the 60 min chart.  Daily MACD could end up recycling and the 60 minute has a possible small inverse H&S.

Daily

60 Minute

The SPY Swing System excited today (11/05/12) at $141.35.  The SPY Swing System is currently in cash awaiting a new signal.

No.  The system is saying it is closing its current long trade Monday.

Also, for those members it applies to, don't forget this weekend is daylight savings so the clocks go back 1 hour on Sunday!

11/02/12:

The SPY Swing System will exit (sell) the current Long position and go to cash ON THE OPEN Monday (11/05/12).

I will leave all notices up until I get the official price on Monday's open and then I will update the SPY section and post in the community.  As for the Historical Trades section - that will be updated to reflect the closed trade within a few days from Monday (and likely Monday evening).

As always please trade as you see fit.

As you would expect the dollar is mainly the inverse.  Still don't like the overall pattern of the weekly but those do take time to play out.  In the meantime the 4 hour RSI is starting to become overbought - not a signal itself but maybe a sign of some consolidation/rest which could lend to one more rally into the 200 day MA and maybe then a top there with the Daily MACD recycling just over 0 and intraday divergence.

Today's move in the dollar has definitely put this scenario into peril.  Still holding the 200 Day and has the 13 and 34 Weekly MA's starting to move up with a nice slope but no divergence on the intraday charts.  Want to see the 200 hold.

Anything that traps and causes the most pain will always be most optimal.  AAPL actually did that in late June 2011 and then rallied roughly 25% in the next month (from $320ish to $400ish).  That's not to say history will repeat itself but something to note.

I was telling Matt earlier that I might take a longer term call spread position to lower the cost and know my exact risk instead of buying the equity.

edit attached chart

Well, I posted that my comments were my thoughts and not an official alert but since then we have retraced from today's highs and I am just noting that there IS a potential for a sell signal to be initiated today.  As with all longs this would be for a sale on Monday and I will follow-up with an official alert later if the condition persists.

Also an interesting fact.  This would be the third straight trade where we received the sell signal on a Friday and closed the trade Monday morning.